Online Hospital Procurement Market Soars To $10 Billion

Compiled By Deborah Austin E-Procurement may prove the biggest challenge and opportunity for the U.S. hospital system in decades -- with technology integration the critical factor in determining competitive success -- says Millennium Research Group ...
Jan. 13, 2005
Compiled ByDeborah Austin E-Procurement may prove the biggest challenge and opportunity for the U.S. hospital system in decades -- with technology integration the critical factor in determining competitive success -- says Millennium Research Group (MRG). Current annualized online purchasing by U.S. hospitals totals $10 billion -- a $5.3 billion increase since June 2000 -- shows MRG's recently released third quarterly survey of purchasing managers. Fifty-two percent of hospital purchasing executives believe that by 2003, e-procurement will comprise more than half their total purchasing. MRG's "Hospital Online Procurement Survey" shows health-care supply-chain-solutions company Neoforma leading in hospital registration over competitors medibuy, Broadlane, medpool, Global Healthcare Exchange, and The New Health Exchange. MRG -- strategic information provider to the medical device, biotechnology, and health-care e-commerce industries -- is based in Toronto.
Sign up for IndustryWeek Newsletters
Get the latest news and updates.

Voice Your Opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!